Maybe you mean "Why didn't the company that's responsible for the damned dam fix the damned dam?"
I found a USA today article with the quote you cited in it, and the article says why: They claimed they couldn't come up with $8,000,000 to do so, and they sought money from the community to do the work. Doing some back of the envelope calcs about the potential revenue from a 4.8 MW hydro plant, and knowing nothing about Boyce's other holdings, this is a credible claim on it's face. Certainly after their ability to sell electricity as a FERC participant was terminated, their financial abilities decreased further.
But if you're trying to let the governor off the hook, the USA Today article you cited has another interesting quote:
"With its power permit revoked, the Edenville Dam's regulation fell to the Michigan Department of Environment, Great Lakes and Energy. However, an EGLE inspection of the dam in October 2018 found it in "fair" condition, despite FERC's alarming findings only about a month earlier."